Today is the ex-date for executing purchase rights at the ratio 1:1 and issuing bonus shares at the ratio 10:3. The subscription period for purchasing rights will be from Aug 24 to Sep 13. FYI, today’s reference price will be adjusted from VND28,200 to VND16,600. Besides, Mrs. Tran Thi Tuyet Mai, wife of BoD Member cum Chairman of the Audit Committee Nguyen Duc Vui, registered to sell 300k CRE shares via order-matching or block trade method from Aug 17 to Sep 15. If successful, her stake would be reduced from 0.25% to 0.1% (203,260 shares).

Comment: They’ve been increasing capital nonstop since going plc, but probably are praying that the the authorities will allow for the real estate market to pick up again.

Vietnam Enterprise Investments Limited and Wareham Group Limited sold a total of 400k DGC shares on Aug 16, thus reducing the total stake of Dragon Capital Group from 7.0362% to 6.9284% (25.72mn shares).

Comment: Had a great 2020 and 2021 due to the massive increase in ASP and their margins went through the roof. I think the tide will turn next year, reversion to the mean implies shares will drop another -50-70%.

For 3Q22, BoD targeted revenue of VND6.5trl (+70% YoY) and PAT of VND200bn (+87% YoY). FYI, for 1H22, DGW achieved VND11.81trl in revenue (+28% YoY) and VND351bn in PAT (+57% YoY).

Comment: Just look at this, pity the Thai investors that aren’t paying attention to how well IT retailers/distributors such as DGW are rocking n rolling despite the covid buying period already passing.

BoD approved the plan of issuing US$300mn worth of international bonds for the purpose of buying 800mn newly issued shares of Ha An Investment Real Estate JSC at the expected price of VND10,000/share within 2022.

Comment: This name had been very popular amongst the brokers last year as everything is riding on the success of the Gem Sky World project which is 92Ha in size!

HDB is seeking shareholders’ approval for its plan to issue as much as US$900mn worth of nonconvertible, unsecured bonds without warrants overseas in 2022-24, lender known as HDBank says on its website. Maturity terms will be from 3 years to 10 years; no details on interest rates have been given yet. Bonds may be issued in one or multiple tranches. Bonds will be listed on the Singapore Stock Exchange. Part of proceeds to be used for medium and long-term loans, restructuring of an unnamed weak bank as ordered by the government.

Foxconn will rent 50.5ha at Quang Chau Industrial Park of KBC. Other renters for this same IP include Luxshare-ICT, JA Solar, Siflex, Samkwang… Foxconn is an existing client with total renting land of 69.82ha and initial registered investment of US$773mn.

Comment: Hello China + 1. With players such as KBZ, VGC (see below), and the Singaporean players, AMATAVN (thai listed entity) has no chance.

BoD has approved to offer 5mn shares (equivalent to 2.035% outstanding shares) via private placement to Sanei Architecture Planning Co., Ltd at the price of VND32,500/share. FYI, co. currently holds no shares of HBC. Expected time will be in 3Q-4Q22 after getting approval from SSC. These shares will be subjected to a 1 year lockup.

Ho Chi Minh Stock Exchange considers putting FLC under trading suspension if FLC continues to violate the regulation regarding information disclosure. FLC will have until Aug 19 to submit its rectification plan (including holding 2022 AGM, publishing 2021 audited financial statement, and choosing the audit firm for 2022). FYI, since Jun 01, FLC has been under restricted trading due to late submission of audited 2021 financial statements by more than 45 days vs deadline.

Comment: The question is when will the chairman be in jail.

VCB announced the successful bond issuance of VND1.5trl worth of 8-year bonds on Aug 09 at the par value of VND1bn apiece.

Comment: We’re all waiting for VCB to receive a stupidly high credit quota for helping up with one of the bad banks.

estimated its PBT in July’22 of VND147bn. Therefore, it expects 7M consolidated PBT of VND1.89trl (2.11 times higher than 7M21 and surpassing FY plan by 11%).

Comment: See KBC

VPB successfully issued 30mn ESOP shares (equivalent to 0.675% of total outstanding shares) for 665 employees at the price of VND10,000/ shares on Aug 16. For further information, 30% of such shares would be subjected to 1 year lock up, 35% would be unlocked after 2 years and the remaining would be released after 3 years lock up. Expected period for delivering such shares to shareholders will be in Aug or Sep 2022.

Comment: Similar to VCB.

According to the documents prepared for the upcoming 2022 EGM, VSC is seeking shareholder’s approval on the issuance of 40mn additional shares via private placement at the price of VND20,000/share. These shares will be subjected to a 3 year lockup. No further information has been provided yet.

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